Bitcoin Isn't Everything: First Active Spot Crypto ETF Diversifies Across Nine Tokens
T. Rowe Price has entered the rapidly expanding digital asset ETF market with the launch of the T. Rowe Price Active Crypto ETF (NYSE:TKNZ), claiming the industry’s first actively managed multi-token spot ETF. The ETF began trading on Thursday and seeks to differentiate itself from the growing list of single-token and passive crypto funds through active portfolio management aimed at capturing market rotations and emerging opportunities across digital assets.
The launch also marks a notable move for one of Wall Street’s oldest active managers into crypto investing. Bloomberg ETF analyst Eric Balchunas highlighted that TKNZ debuted with $15 million in assets and starts with a portfolio that is underweight Bitcoin while allocating more heavily to alternative cryptocurrencies, particularly Hyperliquid.
TKNZ Portfolio manager Blue Macellari, said active management is especially valuable in the fast-moving crypto market, allowing the fund to capitalize on momentum shifts while reducing the burden on investors of building and rebalancing their own crypto portfolios.
Key features of TKNZ:
- Opening assets: Approximately $15 million
- Management fee: 0.75% (fee waiver in effect through May 31, 2027)
- Investment approach: Research-driven active management focused on crypto market trends, momentum and sector rotations
Initial portfolio allocation:
- Bitcoin: 40.75%
- Ethereum: 18.42%
- Binance Coin: 11.01%
- Solana: 9.44%
- XRP: 9.37%
- Hyperliquid: 6.45%
- Stellar: 3.00%
- Dogecoin: 1.28%
- USD Coin: 0.16%
- Cash: 0.11%
Photo: Aree S via Shutterstock